AMFEX Fees and Costs — AAMA Equity Fund
Data updated: 2026-09-15
The net expense ratio is 1.18%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $19K in broker commissions, 0.0050% of average net assets, and portfolio turnover was 1%.
AMFEX Fees and Expenses
Annual operating expenses and sales charges of AMFEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | — |
| Other expenses | 0.15% |
| Gross expense ratio | 1.18% |
| Fee waiver | — |
| Net expense ratio | 1.18% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
AMFEX Costs Over Time
On $10,000 invested in AMFEX, assuming 5% a year before costs, total costs come to $738 over 5 years, cutting the return by 1.24% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.18%) | $124 | $386 | $668 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $19 | $68 |
| Total costs | $124 | $407 | $738 |
| Value after costs | $10,376 | $11,170 | $12,024 |
| Impact on return, per year | 1.24% | 1.24% | 1.24% |
AMFEX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0050%
- Total broker commissions: $19K
- Bought from dealers (principal trades, not a cost): $133.8M
- Portfolio turnover (prospectus): 1%
- Securities lending: none during the year
AMFEX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO., LLC | $10K | 49.55% |
| BTIG LLC | $7K | 35.15% |
| BROWNSTONE INVESTMENT GROUP | $3K | 15.29% |
AMFEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO., LLC | $109.1M | 81.48% |
| StoneX Financial, Inc. | $24.8M | 18.52% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.